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2013 and earlier Lexus IS 250 / IS 350 Lease Questions

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Comments

  • mannypol2mannypol2 Posts: 3
    UPDATE...
    MSRP 38,871
    Residual value 46% - 17880.66
    60 months
    Tier 2 financial because of my credit. 8%

    They want 1,500 (includes misc fees and 1st payment) and $579 (incl taxes).

    What do you guys think? :cry: :(
  • petermanpeterman Posts: 11
    Sorry, that sounds like an insanely awful lease offer. 60 months?! Those terms are almost usurious and I would think you should be able to finance the car for little more than the numbers you're giving..

    I have an IS350, which was about $10,000 higher in MSRP than the car you're looking at yet I paid less than your monthly number when leasing it for 36 months. Granted, my lease was with tier 1 credit and took place two years ago, and the 2014 will probably not be heavily discounted right now even with the golden opportunity sales event, but with numbers like what you're mentioning, I would recommend walking out, or running from that dealership.
  • isloverislover Posts: 32
    edited July 2013
    I agree

    These numbers are horrible

    I actually live in this area, and visited JM Lexus myself over the 4th of July weekend - despite the fact this dealer claims to be the "#1 Lexus dealer in the world!" I find their sales tactics and dealer behavior to be shady and dishonest

    I didn't buy a car because if you don't have Tier 1 credit - they treat you like a second class citizen. It was all "sunshine ponies & rainbows" until they found out I didn't have perfect credit (which I already told them I didn't! - yet I have financed several vehicles through LFS - should count for something, right? NOPE) I actually had the cash to pay the lease up front - and was looking at the GS so it was over 10k for a 24 month lease - they still treated me like dirt - even though I was paying them up front! My salesman didn't call me back, and the finance didn't either - I had to call them to see where everything was at! Also - they completed my survey FOR ME - as in - WITHOUT my permission. They had sent me an email with a link, when I clicked on it, it said it had already been completed. I even emailed my salesman and the finance guy to ask for my survey - guess what? NO response! The only way they get those high ratings with Lexus is because they aren't submitting the true opinion of the customer or of their sales experience with this dealer! In other words F JM Lexus - look at what you are dealing with

    Anyway -

    Here is a link to their current "specials"

    http://www.jm-lexus.com/lexus/new-car-specials/?masterpage=lexus-dealer

    I was told by the finance guy that it doesn't matter to Lexus whether you do a regular pay lease or a one pay - so even though they only have one pay leases listed - you can negotiate something similar. It is to your advantage NOT to do a one pay lease - as all of your $ is in the car and if something happens (accident/total) you lose EVERYTHING.

    DO NOT ever do a 60 month lease!

    Why would you want to do that? As another poster said, if you are considering this - just finance. In addition to being an extremely long lease, you are extending the lease beyond the warranty for the car - if something should happen to the vehicle after 48000 miles - it's out of your pocket.
    The residual value also seems very low for a car that is around the $40k mark.

    In order to correctly calculate ANY lease - you need the selling price of the car, residual value, and money factor - you can find a lease calculator anywhere online and do it yourself to figure out what you are really getting

    You can go on the regular Lexus website and it lists all the incentives for this area - Southeast.

    Here is the link: http://www.yourlexusdealer.com/Miami_Ft_Lauderdale/index.html

    They list a 2014 IS - 27 month lease for $349/month with $3769 due at signing (which is horrendous). If you add in the $3769 to the $349/month payment - in actuality you are paying $13192 for a car lease for 27 months - which is $488.60 per month.

    This is just one example of an available lease at ANY South Florida Lexus dealer. There are always different lease scenarios available - this is just the one they advertise. If you go to the dealer and tell them what you want (miles per year, $ down, length of lease - they will come back with #s for you - don't let them control the sale - if you are smart and educated - YOU control it)

    The 2014 GS lease is better than the IS lease - and it is 10x the car. The 27 month lease on that is: $449/month with $2600 down. Which is equivalent to paying $14,723 over the 27 month lease, or $545/month

    Both of these deals include complimentary first month's payment - and no security deposit - (the $700 acquisition fee is included in the adjusted capital cost reduction). READ THE FINE PRINT in all lease offers. period.

    Even if you don't have all the cash to put down - you can roll it into the lease - that is what I did with the above examples - all the down payment cash rolled into the lease. It IS possible for you to do $0 down with Tier 2 credit - you just have to say that is what you want - then you aren't paying it upfront - but over the lease period.

    If you have Tier 2 - if they have a good finance guy - which every dealer should (including JM Lexus) he should be able to call a favor into Lexus and ask to bump you up to the next credit tier - it is done all the time.

    I would try Lexus of Palm Beach. It's a smaller dealer and easier to deal with in working something out.

    Sorry for the long post - but I am an experienced Lexus buyer and have bought multiple vehicles and have a lot of knowledge about leasing, Lexus Financial Services, sales tactics, shady dealers, etc...

    Hope this helps & you drive away with a new Lexus - in my opinion - the best car on the market
  • Stever@EdmundsStever@Edmunds YooperlandPosts: 38,916
    A reporter is looking for new car lessees. If you leased a new car in the past few months, and would like to share your story, please email your daytime contact information to pr@edmunds.com.
  • mannypol2mannypol2 Posts: 3
    WOW... i can't thank you enough for the post.

    It was extremely informative. :)

    I will update the post with my visit to Palm Beach. ;)
  • kainnyckainnyc Posts: 76
    They list a 2014 IS - 27 month lease for $349/month with $3769 due at signing (which is horrendous). If you add in the $3769 to the $349/month payment - in actuality you are paying $13192 for a car lease for 27 months - which is $488.60 per month.

    this doesnt include tax, or fees which are another few grand plus who drives only 10k miles thats another 50 x 27 mo.
  • isloverislover Posts: 32
    edited July 2013
    true

    taxes do add more to the monthly payment and i would never personally get a 10k per month lease - you will always pay in the end

    was just trying to show this person what the monthly payment would be w the down payment rolled in - in comparison to what the dealer is advertising as the monthly payment

    thanks for additional input
  • jules9971jules9971 Posts: 1
    For information purposes, just thought I'd share the terms I received from Houston dealership this weekend on a new 2014 IS250 RWD F Sport with Navigation. They are selling these models before they even hit the lot, so they aren't offering any discounts off MSRP and are openly charging a high money factor. They really didn't care about giving me a deal because they knew they could lease it to someone else just as quickly.

    MSRP: 42,973
    Trade-in: 3500
    Net Cap Cost: 41,648 (I didn't get exact amount on fees other than base dealer fee, but you can back into it)
    Residual: 66%
    Money Factor: .0023
    Term: 36 months
    Tax: 6.25% tax in Houston
    Total Monthly Payment: 598.60 (with no money down other than trade-in value)

    The lowest I got them was to .00205 on the money factor, which brought the payment down to $581.10. Also asked about tax credits (which may be unique to Texas, not sure), and they said they aren't offering anything because no incentives are being offered on this model right now. I'm probably going to go with the Audi A4 instead, and if I do go with Lexus, I'll have to try another dealership first because I'm not going to accept these terms as is.

    By the way, I don't know how people are getting .000xx money factors because I saw nothing even remotely close to that in the 5 different cars I looked at (Audi, Lexus, Cadillac, Mercedes, Volvo). One dealer said .0010 is the buy rate and can't go below it. SoCal must be very different in that respect...
  • That is NOT a good deal... if you add your payments, it comes to $20,916. I know there is probably tax in there, but if you multiply your net cap cost by (1-.66) you get $14,160. They basically got $6k out of you on this lease. You should be paying approx $400 for this car.
  • kmurkmur Posts: 36
    Hopefully he is at least enjoying the car.

    Out in Los Angeles, the Internet salesmen are knocking $1500 to $2k right off the top of the IS350, without any negotiation required.
  • kmurkmur Posts: 36
    CarMan: What is the current money factor and residual for the IS 350, 12K miles per year, 36 months.

    What are the numbers at 27 months? Thank you.
  • Here is a lease quote I got . . .is it decent (2014 IS 350 AWD)

    MSRP: $47,067
    Discount: $750
    Sale Price: $46,317

    Term Money Factor residual $1999 down $2999 down $3999 down $4999 down
    27 .00130 73% $517 $478 $438 $398
    36 .00130 65% $514 $484 $454 $424

    These figures are based on 10,000 miles per year
    and do not include license, title, and doc fees. All
    payments are on approved credit.
  • mrtrancemrtrance Posts: 89
    CarMan,

    Do you have the latest numbers for leasing a 2014 RWD IS250 with for 3/30K or 3/36K?
  • I'm sorry, but it doesn't look like we'll have any Lexus numbers for August.

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • mbz123mbz123 Posts: 4
    edited August 2013
    Just got a quote for the 2014 IS350 F Sport fully loaded

    $0 Down
    $592 a month
    27 month lease
    15k a year

    MSRP: 48k

    Is this a good deal?
  • wussywussy Posts: 2
    edited August 2013
    Hi there,

    Did they ask you to pay a fee due to signing?

    thanks
  • wussywussy Posts: 2
    ohh because I keep seeing $3789 due at signing that's why I asked, but I think its pretty good deal fully loaded if im not mistaken.
  • abc1237abc1237 Posts: 3
    Its an awesome deal without having to put anything down. Which dealer are you getting this quote from?
  • mbz123mbz123 Posts: 4
    Lexus of Mission Viejo. I might waited out till September. Going to a Ride & Drive event, and hopefully will get a $1000.00 certificate towards a new Lexus lease - dropping the payment even further. It's a good deal but after my previous post "is this a good deal?" I still think I can do better.
This discussion has been closed.